Selling your house can be an exciting venture. Whether you are moving into a bigger space, or moving interstate or to a whole other country, it is a chance for a new beginning. What many people don’t factor in when it comes time to move is exactly how much they will be paying throughout the selling process. We know there will be moving costs, we understand there will be cleaning costs, but what about the selling costs? How much does it cost to sell a house?
How Much Does It Cost To Sell A House?
When it comes to selling a house, most people unsurprisingly think about how much money they will make from the sale. What we should be asking ourselves is how much does it cost to sell a house? From conveyancing costs to different fees in the process, there is plenty to consider. Do these expenses need to be taken away from the actual sale of the house in order to determine how much does it cost to sell a house?
The cost of selling a house can actually vary a lot from state to state depending on where you live in Australia. They will also depend on the state of your home. Many people will need to go through repairs and small home improvements to get their house ready for the market. This will hopefully increase the value of the property and help you get more money in the long run. However, it’s important to work out just what costs could be involved before you commit to selling your home.
How Much Does It Cost To Sell A House? Fees Involved.
Are you wondering how much does it cost to sell a house? Here are some of the costs you need to take into consideration before putting your house on the market:
- Conveyancing fees: this is the process of transferring the legal ownership of your home onto the people who have purchased your property. It can be carried out by license conveyors and solicitors. It can cost between $800 and $2000 for conveyancing fees.
- Agent commission: agent commissions aren’t regulated, which means they are set by the individual agents and can vary greatly. There are two types of commissions, which are fixed and tiered. A fixed commission is usually a percentage of the sale price. A tiered commission offers a larger commission over a certain sale price. This is done to further incentivise your agent.
- Marketing costs: in order to get your home out there and in front of interested parties, you will need to pay for marketing. Marketing campaigns are generally suggested by your agent, and they include photography of your house, listings on certain sites, floor plan, etc.
These are the main fees you need to take into consideration before you sell your home. It’s important to research your state to get an understanding of the expected rate for your circumstances. This can vary greatly.
Other Costs Involved
Of course, there are plenty of other costs involved in selling your home, outside of the fees. These are generally optional costs, but they can add to the value of your home:
- Repairs and touch-ups: before putting your house on the market, you want to make sure it is in the best state possible. This often means going through and doing any repairs that are needed, along with touch-ups, such as painting, etc. There is no specific budget for these works and they will very much depend on your individual circumstances.
- Renovations: you may even want to go a step further and carry out renovations on your home before selling. This can be a great way to increase the value of your home, as buyers always love new. Of course, this does come with the stress of additional high costs.
- House cleaning: when you move out, it is good practice to pay for a thorough clean to ensure the house is in the best state possible for the new owners.
So, how much does it cost to sell a house? While all these factor in, the costs of selling a house will vary from person to person. It is worth sitting down when you are thinking about selling and working them out based on your situation.
Finding The Right Help
Are you looking to sell your home? NSW Mortgage Corp can help you out with the perfect loan to suit your needs to make selling your home as pain-free as possible. Before you sell, it is understandable you may not have the upfront costs to be able to afford repairs, marketing costs, house cleaning and more.
